Acadian Asset Management LLC boosted its stake in shares of Perrigo Company plc (NYSE:PRGO) by 3.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 405,673 shares of the company’s stock after buying an additional 13,244 shares during the quarter. Acadian Asset Management LLC owned approximately 0.30% of Perrigo worth $16,417,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in PRGO. Norges Bank bought a new stake in Perrigo during the 4th quarter valued at about $48,130,000. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management raised its holdings in shares of Perrigo by 20.6% in the 1st quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 2,922,185 shares of the company’s stock valued at $118,261,000 after purchasing an additional 500,118 shares in the last quarter. SummerHaven Investment Management LLC bought a new stake in shares of Perrigo in the 4th quarter valued at about $338,000. Phoenix Holdings Ltd. raised its holdings in shares of Perrigo by 35.8% in the 4th quarter. Phoenix Holdings Ltd. now owns 1,124,530 shares of the company’s stock valued at $50,211,000 after purchasing an additional 296,319 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Perrigo by 16.6% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,532,507 shares of the company’s stock valued at $62,297,000 after purchasing an additional 218,081 shares in the last quarter. Institutional investors own 85.72% of the company’s stock.
Several equities research analysts have recently commented on PRGO shares. Royal Bank of Canada started coverage on shares of Perrigo in a report on Wednesday, April 7th. They issued a “sector perform” rating and a $51.00 price target for the company. Morgan Stanley reduced their price target on shares of Perrigo from $53.00 to $45.00 and set an “equal weight” rating for the company in a report on Friday, March 5th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $52.00.
Shares of Perrigo stock opened at $48.87 on Friday. The stock has a 50 day moving average price of $43.66. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.32 and a current ratio of 3.10. Perrigo Company plc has a 52-week low of $38.20 and a 52-week high of $58.83. The stock has a market cap of $6.53 billion, a P/E ratio of -28.75 and a beta of 1.20.
Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Monday, May 10th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.07). Perrigo had a positive return on equity of 8.06% and a negative net margin of 4.88%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm earned $1.14 EPS. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. As a group, equities research analysts expect that Perrigo Company plc will post 2.6 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 22nd. Stockholders of record on Friday, June 4th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, June 3rd. Perrigo’s payout ratio is currently 23.88%.
Perrigo Company Profile
Perrigo Company plc provides over-the-counter (OTC) health and wellness solutions that enhance individual well-being by empowering consumers to prevent or treat conditions that can be self-managed. The company operates through Consumer Self-Care Americas, Consumer Self-Care International, and Prescription Pharmaceuticals segments.
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